The Fed kept interest rates low throughout the housing bubble. Without that policy, the bubble wouldn’t have happened at all and the banks would not be at risk because of the collapse in the housing market.
And their was nothing wrong with the Titanic's course and speed, right Captain Smith?
But we know where you're coming from.
"I'd like to see mainstreet try to live for 6 months without financiers directing their activities. They be reduced to shooting each other over the last can of campbells."
5 posted on Saturday, October 04, 2008 3:38:33 PM by JasonC
"The US economy is going to come back gangbusters. Might take as long as 2 years, more likely only 1, but it will happen. Baked in. The Fed already did enough, and the Bush treasury, and adjustments to prices in the free market (commodities, houses, stocks, corporate bonds, all of it). ... Buy a clue already. The US economy has buried every challenge thrown at it for over 200 years, and it will bury this challenge. Do the Dems deserve the credit for fixing it? No, but they'll take it anyway. And if all you do in the meantime is predict failure, then they will succeed in getting that credit from the American people, while you will stand revealed as an economically illiterate fool. Get some optimism, people! Conservatives without economic optimism are so useless. The place to watch Obama is foreign affairs, he isn't hawkish enough. The economy is going to be fine."
19 posted on Thursday, January 08, 2009 9:33:36 PM by JasonC
Once again, just like you shilled on FR for the moronic bailout #1, you are just flat wrong.
Where exactly in the US Constitution is Congress given the authority to establish a Federal Reserve bank?
L